Submitted by Barry Borowitz on Wed, 05/01/2013 - 7:27am
By and large, foreclosure in California is a relatively swift process, which can take place in as little as 120 days. This is the case because most California foreclosures are “non-judicial," meaning that a court does not oversee the foreclosure process.
The general goal of bankruptcy is to eliminate debt and provide a "fresh start" to those who have become overwhelmed by financial obligations. Many people erroneously believe that filing for bankruptcy means you lose everything but that would defeat the purpose of bankruptcy. Without a home, vehicle, or household goods and clothing it would be almost impossible to rebuild your life.
Submitted by Erik Clark on Tue, 07/24/2012 - 4:46pm
As bankruptcy attorneys, one question we are regularly asked is whether or not our clients can keep their home in bankruptcy? Fortunately, the answer is almost always "yes" for those who have stable income and can afford their regular ongoing mortgage payments.
In these difficult times, with thousands of people losing their jobs every month, it can be hard to keep up with all the expenses, especially when the bills keep coming. Falling behind on payments for a vehicle happens to the best of us. Sometimes life deals you adversity like an unexpected medical bill, a work related layoff or some other situation that no one plans for in the budget. You don’t have the money for it, but if you put off the car payment, you can get the bill paid, and hopefully can catch up on the car payment next month.